India: Scrapped Ship Imports Rally 18% in May'19
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Alang - one of the largest ship-breaking yard in the world has recorded surge in ship breaking scrap imports by 18.1% during May'19 and hit 4-months high. Alang is located in Gujarat- western India.
The total volume of ship demolished in the India's Alang port was marked at 147,118 LDT (16 ships) in May'19. Meanwhile, in the last month it was stood at 124,614 LDT with 17 number ships.
While, on yearly comparison, the ship breaking import volumes have slightly rose by 9.83% in May'19 in comparison with 133,944 LDT in May'18.
In May'19, the total quantity beached in the port of Alang, Gadani & Chittagong is at 494,080 LDT, recorded a gain of 8.65% M-o-M as against 454,720 LdT in the month of April 2019.
While Bangladesh remained the major buyer of scrapped ships in May'19 with 338,684 LDT (30 Ships), surge by 7.4 % as against 315,474 LDT (26 Ships) in April'19. Inline, in Gadani port, Pakistan the scrapped ships import fell by 43.4% in May'19 & stood at 8,278 LDT with 4 number of ships, the data received from GMS showed.
Prices Analysis
Analysing the price movement, in the current week offers in India reached at USD 425/LT for Tankers and USD 435/LT for Containers & USD 415/LT for Dry bulk. Offers moved down by USD 5/LT in a week as domestic steel prices in India along with scrap slow down. Indian Rupee exchange value continued steady in the range of INR 69.00 to 70.00 as against USD.
While scrapped ships buyers in Bangladesh, Pakistan & Turkey are not seen very active with the Holy month of Ramadan. In Bangladesh, no new enquiries & offers seen over the budget of 13th Jun'19, in the week prices remains same & stood at USD 430/LT for Containers, USD 410/LT for Dry bulk and USD 420/LT for Tanker.
Further more, Pakistan remained in currency crisis & steel mills are shuttering with no major trades. The prices for containers reached at USD 420/LT, Dry Bulk at USD 400/LT & tankers at USD 410/LT.
Ship Breaking | |||||
Country | Port | May'19 | April'19 | % Change M-o-M | No of Ships Beached in May'19 |
Bangladesh | Chittagong | 338,684 | 315,474 | 7.4 | 30 |
India | Alang | 147,118 | 124,614 | 18.1 | 16 |
Pakistan | Gadani | 8,278 | 14,632 | -43.4 | 4 |
Quantity in LDT
Source: SteelMint Stats